According to Ruth Mantell with the Washington MarketWatch:
Existing-home sales in May were up 12.9% from the same period in the prior year — the largest growth since October 2011. Meanwhile, year-over-year median prices rose 15.4% in May, the largest growth since 2005.
Existing-home sales rose 4.2% in May to the highest pace since November 2009 pointing to a continuing recovery the National Association of Realtors reported Thursday.
The median existing-home price hit $208,000 in May, the highest since 2008, with low inventory supporting prices. The median price is up 15.4% from the same period in the prior year, the largest growth since 2005.
As home prices continue to…
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